Business

The Real Impact of Customer Engagement: Comments, Reviews, Testimonials

The Real Impact of Customer Engagement – Customers are the main reason businesses are built and they are also the cause of its growth and success. Hence, it is only imperative to value their engagement and include among key metrics to measuring business success.

With social media and the internet, consumers have become more vocal than ever. They have multiple platforms to express their comments and opinions.

These platforms are also what they used to reach out and get involved with their favorite brands. In turn, social media and the world wide web has become a vital marketing tool for almost all business.

The ability and need to reach customers online has further emphasized the need for customer engagement and how it can drive growth.

Customers do more than buy your products and services; they share your content, recommend your and products to their friends, and are the first to go to bat for you online.

Their support means more than just the dollars they spend. They can take your business to different levels, if you pay close attention.

Here are some of the real impact of customer engagement on an organization.

It Tends To Boost Revenue

It should come as no surprise that customers who feel like they’re getting real value from a brand will continue to purchase from them.

Studies suggest engaged customers buy 90 percent more frequently and spend 60 percent more per transaction.

Even major renowned brands have proven that customer engagement, more than any other strategy, is an effective tool to boost profit.

In 2021, Nike was able to increase its profit by 16 percent through customer engagement.

They did this by establishing a direct connection with their customers, particularly via digital platforms. The brand did not just made ads and offered discounts; they provided customers with a seamless experience across different marketplaces.

They also gave access to useful tools like a fitness app endorsed by prominent and relevant people who are relatable to their target audience.

This makes people feel seen, which leads them to engage to brands and trust the brand with their hard-earned money as well.

Engaged customers can turn into loyal customers and even avid ambassadors of your brand. If they trust you, they will purchase your product and recommend you to other people.

This is a good domino effect that can ultimately boost your income and provide you with a sustained growth over time.

Develops a Sense of Loyalty

Not only do engaged customers spend more on your products and services, but they also spend less on your competitors.

If you are able to engage your customers, you get ahead of your competition.

A study suggest that engaged customers are twice more likely to purchase from a brand they already know and prefer even when there are more convenient offers from competitors.

Having presence and being visible and available to customers helps them remember your brand and can encourage them to engage.

It is important that even after they made their purchase from you, you still reach out to them and provide them with useful content that will encourage them to interact with you and promote your brand over others.

You can pick up the best tips on building solid digital marketing campaigns through one of the leading platforms on the market through, Ahrefs Tool Guide: Keyword and Site Explorer for E-commerce to see how you can effectively identify the right keywords and even monitor keywords used by competitors online.

This way, you can always stay ahead of competitors and be the first one your customers see on their search engine results, which leads to engagement and loyalty to a brand.

Ensures Customer Advocacy for the Company

A truly successful business creates customer experiences around their products and services that are so tailored, meaningful, and memorable that their customers begin promoting on behalf of the brand.

It is human nature to be territorial; they claim something as their own and fight for it no matter what.

This is the same instinct that consumer use when it comes to brands that provided them with remarkable service or experience.

Your brand becomes something of value to them. It becomes something they want to share and something they want to be proud of.

A Nielsen survey revealed that 92 percent of consumers say they trust earned media, like as recommendations from friends and family over other forms of advertising.

And when you have your customers advocating for you, you are actually creating an engaged community.

They accumulate a collective power to promote your brand further than any ad will do. Thus, it is important that your customers are keep engaged and are given something that’s worth promoting and advocating for.

Customer and Company Collaboration

Engaged customers are not just there to be counted as numbers. They are often those whom you can reach out to and can provide you with the feedback you need in order to improve.

You offer products primarily for customers’ to use, appreciate and value.

Hence, it must be a part of your process to gather feedback, view their comments and read reviews to improve your service or product based on what your they want and need.

With engaged customers you get collaborators, providing you the real input you need.

Your customers can guide you to developing better products and services that addresses their specific problems — no need for any more guesswork.

Allow your customers to decide and take part on developing their journey and the product or service they purchase from you.

This way, you can further improve their engagement and can have a precise direction on how to develop your product.

Fostering Long-Term Customer Relationships

In reality, attracting and converting customers is already an expensive endeavor.

Therefore, it recommended for business to focus their investment on customers who are lucrative for the company in the long run. This is where engagement comes in.

In today’s fast and highly competitive business industry, it is important to not just attract and convert customers but keep them coming back.

Engaging them fosters trust and loyalty, which leads to retention and longer customer lifetime value.

Involve customers and provide them something of value. This comes as both things with a true value like monetary discounts, as well as a positive experience and customer journey can make them be more hooked to your brand.

This way, you can foster long-term, mutually beneficial relationships and trust with all your customers.

Customer Engagement Is a Driving Force

Beyond the best SEO strategy or marketing tools, your customers are the number one driving force that can propel your business further — not just to lead search engine results but even the whole industry you are in.

The success and longevity of your business relatively lies on customer engagement.

The more your customers trust you, the more they will promote your brand to others and be loyal to you. Don’t take this for granted.

Listen to your customers, reward their loyalty and make sure you provide them an unforgettable experience everytime that will keep them engage to your brand for a long time.

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Business

PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

Business

Old National Bank And Infosys Broaden Their Strategic Partnership.

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL

Business

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

The largest regulated water and wastewater utility company in the United States stated Monday that it had been the target of a cyberattack, forcing the company to halt invoicing to consumers.

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

American Water, based in New Jersey and serving over 14 million people in 14 states and 18 military facilities, said it learned of the unauthorized activity on Thursday and quickly took precautions, including shutting down certain systems. The business does not believe the attack had an impact on its facilities or operations and said employees were working “around the clock” to determine the origin and scale of the attack.

water

The corporation stated that it has alerted legal enforcement and is cooperating with them. It also stated that consumers will not be charged late fees while its systems are unavailable.

According to their website, American Water operates over 500 water and wastewater systems in around 1,700 communities across California, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Missouri, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.

SOURCE | AP